Is "ACH DEBIT XXXX DEPT EDUCATION STUDENT LN" fraud?
Written by Remi Russell
June 18th, 2024
Medium Risk
What is "ACH DEBIT XXXX DEPT EDUCATION STUDENT LN"?
Dept Education Student Ln is a government agency that has been facilitating student loans for several decades. It provides federal loans to undergraduate and graduate students to help cover the costs of higher education. The agency offers Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans, each tailored to meet varying financial needs of students and their families. Repayment plans and loan forgiveness options are also available to assist borrowers in managing their student loan debt responsibly.
Verify if this transaction is fraud in 30 seconds
Verify With Receipt
The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.
Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.
STEP 1
Connect your Email
Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.
STEP 2
Connect Your Bank
Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.
STEP 3
Reconcile
Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.
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Transaction codes from Dept Education Student Ln
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